The AIM-listed investment company said the move represents a major breakthrough in Bitcoin mining and highlighted the tech provides a very material optimisation of the Bitcoin mining algorithm and is based on the research work of the company’s cryptography expert.
The share price rise would have been more impressive still had not the company also released its half-year results this week, which prompted a bit of profit-taking. The loss after tax narrowed to GBP1.3mln from GBP3.6mln in the first half of 2020.
Trading has remained strong since the end of the first half of 2021, the company said, with the positive trend in the ad market continuing alongside some very strong traffic attached to some seasonal TV shows.
It would have been embarrassing for a management consultancy to mess things up but happily for the company’s shareholders things seem to be tickety-boo, with the company posting a 77% increase in first-half revenue compared to 2020 while adjusted underlying earnings (EBITDA) soared 78%; profit before tax leapt 145% to GBP6.4mln from GBP2.6mln the year before.
7digital Group PLC let the side down with its interims, which prompted a halving in the stock market value of the business-to-business digital music solutions provider.
The company downgraded full-year revenue expectations as it said some contracts the company had expected to sign in the second half of 2021 are now anticipated to complete in the first half of 2022. 7digital said it no longer expects to make a profit in 2021.
There has been a changing of the guard at Ormonde Mining PLC (AIM:ORM) with a number of directors resigning after Tim Livesey, previously the senior independent director of Ormonde, failed to get re-elected to the board.
Jonathan Henry, the executive chair; Paul Carroll, the chief financial officer and Fraser Gardiner, the chief operating officer, all resigned their positions after the voting at the annual general meeting that saw Brendan McMorrow and Keith O’Donnell elected to the board, which now comprises that pair plus Brian Timmons. All of them are the nominees of Thomas Anderson, who holds 235 of the company’s shares.
Shares in Ormonde were up 29% on the week.
It has been a good week for e-Therapeutics PLC on AIM since the company listed its shares last Friday in the US on the OTCQX Best Market under the ticker symbol ETXPF.
The AIM-listed computational drug discovery group, which is focused on RNA interference (RNAi), said the move onto the US market would help broaden the shareholder base.
For once, the management-speak seems to have been borne out with the shares up 23% in the final week of September.
The framework involves the provision of artificial intelligence, imaging and radiotherapy equipment and associated products and diagnostic imaging to public and private sector organisations.
Feedback shares were 20% heavier.
Lastly, Parsley Box Group Plc (AIM:MEAL), the ready meals delivery firm that floated on AIM to the accompaniment of much hoop-la at the end of March crashed 45% this week after the company’s trading update left a nasty taste in the market’s mouth.
The group said it is experiencing labour issues throughout its supply chain and has been significantly restricted by stock availability at circa 50% of plan. That has put a crimp on expansion plans and the group has downgraded full-year revenue and profit (well, actually, loss) expectations.